The results reported are pursuant to International Financial Reporting Standards (IFRS) for public companies.

For the six months ended February 28, 2014, the Company is reporting net income of $7.9 million (2013: $3.7 million); cash flows from operating activities, before changes in non-cash operating balances, of $5.2 million (2013: $4.0 million); and income per share of $0.13 (2013: $0.06). Included in net income is a pre-tax net gain from the fair value adjustment on investment properties of $4.6 million (2013: $0.6 million).

Excluding properties held for sale, the Company currently owns approximately $360 million in investment properties, comprising 2.1 million rentable sq. ft. of industrial and commercial space, of which, over 99% of the available space is leased.

For a review of the risks and uncertainties to which the Company is subject see the August 31, 2013 annual MD&A.